A Crypto Collateral Whodunit: Standard Chartered and OKX Unleash Institutional Shenanigans!

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In the midst of an era that can only be described as a Dickensian farce, Standard Chartered and the ever-charming cryptocurrency marketplace known as OKX have decided it’s high time to introduce a new scheme. Yes, ladies and gentlemen, we’re talking about an audacious pilot program that allows institutions to toss their crypto assets and tokenized money market funds (MMFs) into the collateral mix, like so many spices in a rather questionable stew.

Announced on the 10th day of April (which, for some reason, is a month that always feels like a cruel April Fools’ joke), this collateral mirroring extravaganza promises to make off-exchange collateral usage as secure as a dragon guarding a pile of gold, thanks to the vigilant watch of a globally systemically important bank. Not that we’re suggesting the bank might be a dragon—but who knows what goes on behind those closed doors?

The pilot is under the watchful gaze of the Dubai Virtual Asset Regulatory Authority, which sounds incredibly serious. Standard Chartered has donned its regulated custodian cap, preparing for a soiree in the Dubai International Financial Centre (DIFC) where the virtual and the tangible can mingle, dance, and perhaps share a cocktail or two.

The program isn’t just a whimsical adventure in finance; it’s been launched in cahoots with the crypto-amiable asset manager Franklin Templeton, who are now too cool for traditional funds. Among the first gallant institutions to join this merry bandwagon is Brevan Howard Digital—if they were any more on-brand, they might as well be wearing matching T-shirts.

OKX Clients Join the Onchain Party 🎉

As part of this convoluted collaboration, OKX clients will receive access to onchain assets cooked up warmly by Franklin Templeton’s talented digital assets team. Roger Bayston, the head of this digital wizardry, has a profound way of stating the obvious:

“By ensuring assets are minted onchain, we enable true ownership, allowing them to move and settle at blockchain speed — eliminating the need for traditional infrastructure.”

Translation: “We put it on the blockchain, and voilà! It’s an asset! All aboard the crypto express!”

It seems Franklin Templeton will be the first of a multitude in the grand buffet of MMFs being served up with a dash of blockchain flair by our friends at Standard Chartered and OKX. So, prepare your wallets and your taste buds, folks!

Standard Chartered: The Tokenized Fund Support Team

In the ever-volatile world of crypto lending, where collateral is any blockchain-based asset (yes, those shiny bits of digital chaos) used to ensure you don’t abscond with the lender’s cash, Standard Chartered’s Margaret Harwood-Jones has declared herself unabashedly enthusiastic about crypto collaterals. In her mind, this is a quantum leap for institutional crypto services.

“Our collaboration with OKX represents a significant step forward in providing institutional clients with the confidence and efficiency they need,” she stated, radiating optimism. It appears her belief is that if you wrap it in enough red tape, it turns into a shiny, trusted asset.

“By leveraging our established custody infrastructure, we ensure the highest standards of security and regulatory compliance, fostering greater trust in the digital asset ecosystem.”

Then there’s Ryan Taylor, the group head of compliance at Brevan Howard, chiming in like a well-timed clock: “As a significant investor in the digital assets space, we are thrilled to partner with industry leaders to further grow and evolve the crypto ecosystem globally.” Which is lovely and heartfelt—right before a meeting that probably needs a new PowerPoint deck.

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2025-04-10 18:00